Forsta AP Fonden Decreases Stock Holdings in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Forsta AP Fonden lowered its stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 49,700 shares of the transportation company’s stock after selling 900 shares during the quarter. Forsta AP Fonden’s holdings in Westinghouse Air Brake Technologies were worth $9,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in WAB. Pinnacle Bancorp Inc. boosted its position in shares of Westinghouse Air Brake Technologies by 55.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. Eastern Bank bought a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth about $33,000. Garde Capital Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $110,000. Camden National Bank purchased a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $222,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Westinghouse Air Brake Technologies by 10.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Price Performance

Shares of NYSE WAB opened at $209.95 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The stock has a market cap of $36.09 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 1.33 and a beta of 1.27. The company’s 50-day moving average price is $198.29 and its 200 day moving average price is $183.32. Westinghouse Air Brake Technologies Co. has a 52 week low of $131.31 and a 52 week high of $210.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WAB shares. Susquehanna lifted their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. KeyCorp increased their target price on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Bank of America upped their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Stephens boosted their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Insider Activity

In related news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the sale, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. This trade represents a 32.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.